Paulo Sousa/iStock via Getty Images REVOLVE Group ( NYSE: RVLV ), the parent company to retailers FWRD and Revolve, has acquired a majority stake in couture house Alexandre Vauthier, further differentiating REVOLVE ( RVLV ) in the premium and high-end fashion market. As part of the transaction, REVOLVE ( RVLV ) will contribute purchased assets into a newly formed entity and invest €6M over three years. Additional terms of the transaction were not disclosed.
“By integrating our impactful brand marketing strategies and operational excellence with Vauthier’s visionary design, we are set to ignite a new era of Fashion influence in luxury to build an iconic French maison,” said REVOLVE co-CEO Michael Mente. The acquisition comes at a challenging time for luxury brands amid shifting consumer spending. According to an industry study, U.
S. direct-to-consumer luxury spending was down 7% in 2023 versus a 15% increase the year prior, continuing to worsen through January. The news left little impact on shares of REVOLVE, which closed on Tuesday fractionally lower.
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